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5 Stocks To Watch Following Alibaba's Big Earnings Beat

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5 Stocks To Watch Following Alibaba's Big Earnings Beat

Alibaba Group Holding Ltd (NYSE: BABA) reported Thursday its third-quarter earnings, which helped boost the stock more than 3 percent, above its prior all-time high of $188.88.

The company reported that it earned $1.29 per share in the third quarter on revenue of RMB55.122 million, or $8.28 billion. Wall Street analysts were expecting the company to earn $1.03 per share on revenue of $7.85 billion.

Total revenue for the quarter rose 61 percent from a year ago. The company highlighted following segment performance: 1) revenue from core commerce rose 63 percent to $6.983 billion, 2) revenue from cloud computing rose 99 percent to $447 million, 3) revenue from digital media and entertainment rose 33 percent to $721 million, and 4) revenue from innovation initiatives and others rose 27 percent to $134 million.

Annual active consumers on Alibaba's China retail marketplaces rose by 22 million users from a year ago to 488 million. Mobile monthly active users rose 20 million users to 549 million, the company said. Net income for the quarter rose 146 percent from a year ago to $2.616 billion.

Alibaba's big earnings beat and revenue growth across every segment helped boost shares of several other China-based ecommerce and internet players modestly higher early Thursday morning. Here is a list of five stocks investors may want to pay closer attention to on Thursday.

  • JD.Com Inc(ADR) (NASDAQ: JD): up 0.90 percent at $38.20.
  • Weibo Corp (ADR) (NASDAQ: WB): up 0.83 percent at $97.40.
  • Baidu Inc (ADR) (NASDAQ: BIDU): up 0.24 percent at $246.01.
  • SINA Corp (NASDAQ: SINA) up about 1 percent.
  • Sohu.com Inc (NASDAQ: SOHU) also up about 1 percent.

Related Links:

How Alibaba Shares Make It Over The $200 Level

Alibaba Is Setting Aside $15 Billion For R&D Spend Across The World

Image credit: Andy Mitchell, Flickr

 

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